Author: Akin Naphtal

IBM Security’s report reveals that severe staffing shortages are exacerbating the financial impact of data breaches while adopting AI is helping to mitigate these costs. The report tagged “Cost of a Data Breach” highlights a significant rise in the cost of data breaches, marking the largest increase since the COVID-19 pandemic. According to IBM, the global average cost of a data breach in 2024 has surged to $4.88 million, a 10% increase from the previous year. The report underscores the impact of staffing shortages on breach costs. Organizations facing severe staffing issues reported an average breach cost of €5.28 million,…

eMedia Holdings has revealed future plans for its eVOD streaming service, following a significant viewer adoption report. Launched in August 2021, it has registered 1.13 million users, according to the company’s annual report for the 2024 financial year. While eMedia has not disclosed the number of active eVOD users, the report highlighted a 19% increase in watch time over the 2023 financial year, reaching a total of 1.3 billion minutes. Looking ahead, eMedia plans to expand its applications for smart TVs, enhancing the service’s accessibility and user experience. The eVOD platform, featuring both free and subscription-based components, was introduced to…

The Old Mutual Group and the Kenya Institute of Curriculum Development (KICD) have launched an online financial literacy programme targeted at junior and senior school teachers, to enhance financial literacy among students. This initiative aims to mainstream financial literacy education within the existing Competency-Based Curriculum (CBC), covering pre-primary to senior school levels. Developed in response to studies revealing low financial literacy among Kenyans, the programme seeks to strengthen the capacity of teachers to deliver financial education through high-quality and engaging digital and non-digital content resources. Prof. Charles Ong’ondo, KICD Chief Executive Officer, praised Old Mutual Group for its commitment to…

Skybox Security Research Lab has released its 2024 Vulnerability and Threat Trends Report, revealing a significant increase in cybersecurity threats, with over 30,000 new vulnerabilities published last year. This equates to a new vulnerability being discovered every 17 minutes. The report indicates that nearly half of these vulnerabilities were classified as high or critical, creating a “focus gap” for security teams. The overwhelming volume of threats challenges organizations to prioritize effectively, potentially leaving critical risks unaddressed and increasing exposure to cyberattacks. The CEO of Skybox Security, Mordecai Rosen, stressed the necessity of a comprehensive approach to vulnerability management. He advocated…

eTranzact International has expressed its commitment to becoming a regional leader in the electronic and mobile payment industry. This was highlighted during the company’s 20th Annual General Meeting held in Lagos, where the Chairman, Mr. Wole Abegunde, outlined the company’s strategic goals. “We are poised and committed to being a regional leader in the medium term and, in the long term, a global leader in the electronic and mobile payment industry,” said Abegunde. He emphasized that eTranzact will continue to offer secure, cost-effective, and innovative payment services compliant with globally recognized standards. During the meeting, Abegunde presented the company’s financial…

Microsoft has announced an upgrade to the web variant of Microsoft Excel, introducing a modernised look designed to align Excel web with the more rounded aesthetic of the Microsoft 365 platform, featuring a “Simple. Easy. Delightful” visual overhaul. In a blog post unveiling the update, Microsoft revealed that the updated Excel now features slightly larger sheets, columns, and rows, offering a less rigid and more structured appearance. This change brings a fresh, modern feel to the software. The colours in data fields are now more vibrant, contrasting with the new neutral light grey window theme that replaces the traditional green.…

The Nasdaq 100 Index has experienced an 8% decline, edging towards correction territory, as investors await crucial earnings reports from major technology companies. The downturn comes amid a significant sell-off in Big Tech stocks, fueled by concerns over high valuations and escalating costs related to artificial intelligence (AI) investments. The recent slide in the Nasdaq 100 was triggered by a disappointing earnings report from Alphabet, which intensified a broader market rotation out of Big Tech. Investors are now focused on the upcoming earnings reports from Microsoft, Meta Platforms, Apple, and Amazon—companies with a combined market value approaching $10 trillion. These…

Apple’s AI features, branded as Apple Intelligence, will not be included in the initial launch of its iPhone and iPad software updates, iOS 18 and iPadOS 18, set for September. Instead, these features will be introduced in a subsequent update by October, giving the company more time to address stability issues and ensure a smoother rollout, according to sources familiar with the matter. The tech giant is taking an unusual step by making Apple Intelligence available to software developers for early testing this week through beta versions of iOS 18.1 and iPadOS 18.1. This early release strategy is intended to…

SpaceX has postponed its highly anticipated launch of the Polaris Dawn mission, which was originally planned for no earlier than July 31, till mid-August. The adjustment appears to be due to SpaceX prioritizing the Crew-9 mission, which aims to launch four astronauts to the International Space Station (ISS) and is currently targeting August 18. The Polaris Dawn mission will see four nonprofessional astronauts embark on a SpaceX Crew Dragon spacecraft, reaching an orbit approximately 435 miles (700 kilometers) above Earth. This altitude will take them around 185 miles (298 kilometers) above the ISS, marking the furthest distance a Crew Dragon…

Village Capital, a global nonprofit organization focused on early-stage investment, has announced substantial support for two African agritech startups, Aquarech from Kenya and Coamana from Nigeria. These startups will receive investments of $350,000 and $500,000, respectively, as part of Village Capital’s Reducing Inequalities Investment Facility. The initiative is funded by FMO’s MASSIF Fund, which has already committed $1.6 million to four startups. Aquarech, a B2B and B2C company, offers fish farmers a Buy Now, Pay Later (BNPL) solution for purchasing fish feed. The startup also provides training and precision agriculture tools, enabling farmers to adopt best practices and increase their…